V2X raised full-year guidance after reporting 55% EPS growth and 23% revenue increase in Q1, exceeding expectations.
V2X Inc. (NYSE:VVX) posted first-quarter earnings per share of $1.53, a 55% year-over-year increase, surpassing the $1.24 estimate. Revenue rose 23% to $1.25 billion, beating the $1.13 billion forecast.
The company secured 50 awards totaling $4.1 billion, lifting its backlog to $13.8 billion. Following the results, V2X raised full-year revenue guidance to $4.825 billion-$4.975 billion from $4.675 billion-$4.825 billion and EPS guidance to $5.75-$6.15 from $5.50-$5.90.
Truist Securities reiterated a Hold rating on VVX but increased its price target to $70 from $68, citing strong performance in national security, Middle East operations, and T-6 programs.